The EU has committed in its new Climate Law to reduce greenhouse gas (GHG) emissions by at least 55% by 2030 (compared to 1990 levels) and become carbon neutral (net zero) by 2050.
Today, the European Commission has published the much-anticipated "Fit for 55" package, with a number of legislative and policy proposals to enable the EU to meet its new 2030 target - i.e. a package that is "fit for" delivering a 55% GHG reduction by 2030.
This a significant moment for the European Green Deal and the EU's efforts to lead on global climate diplomacy. What is being proposed will involve very significant changes for all sectors - in particular the energy, transport and buildings sectors.
According to the President of the European Commission, Ursula von der Leyen:
"The fossil fuel economy has reached its limits...Europe was the first continent to declare to be climate neutral in 2050, and now we are the very first ones to put a concrete roadmap on the table. Europe walks the talk on climate policies through innovation, investment and social compensation."
And according to Executive Vice-President for the European Green Deal, Frans Timmermans:
"This is the make-or-break decade in the fight against the climate and biodiversity crises. The European Union has set ambitious targets and today we present how we can meet them. Getting to a green and healthy future for all will require considerable effort in every sector and every Member State."
However, publication of these proposals by the Commission is just the start of what is bound to be long and fraught negotiations between the Council and European Parliament on the proposals. Let the "trilogues" commence!
See below for a very quick guide on what the package includes.
We will be following up with more detailed analysis on the key proposals and the practical implications for clients shortly. For more information, see our Fit for 55 microsite.
General documents on the Fit for 55 package:
- Commission Communication on the Fit for 55 Package
- Press release
- Factsheet on the architecture of the package
- Commission webpage on Delivering the Green Deal
- Brochure on delivering targets
The Commission has also published the following Factsheets:
- Nature and Forests Factsheet
- Transport Factsheet
- Energy Factsheet
- Buildings Factsheet
- Industry Factsheet
- Hydrogen Factsheet
Land Use, Forestry and Agriculture
Social Climate Fund
Climate change is the biggest challenge of our times. And it is an opportunity to build a new economic model. The European Green Deal set the blueprint for this transformational change. All 27 EU Member States committed to turning the EU into the first climate neutral continent by 2050. To get there, they pledged to reduce emissions by at least 55% by 2030, compared to 1990 levels.